The European Venture Capital Association (EVCA) painted a mixed picture for the European venture capital and private equity investment sector in the second quarter of this year in recently released figures detailing the situation as of June 2009.
The EVCA revealed that in Q2, the number of companies receiving private equity investment fell by 8% compared to the previous three months, and the amount invested dropped 16% to EUR3.6bn, again compared to the first quarter of the year.
The Association provided further details on the decline in investment, explaining that buyout investments were down 14% (to EUR1.6bn in Q2), growth capital investment was down by "nearly half," to EUR622m, and that venture capital investment was around a quarter lower than the previous three months, at EUR728m.
The EVCA stated, however, that replacement capital investment had more than doubled in Q2, and that fundraising had "bounced back" 18% in the second quarter, to EUR3.2bn.
The situation appears somewhat different in the United States, where figures released earlier this month by PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thomson Reuters, suggested that US venture capital investments reached USD3.7bn in the second quarter of 2009, a 15% increase on the previous quarter.
However, the MoneyTree Report predicted a total investment by the sector of about USD15bn for the full year, which would be the lowest since before the dotcom "bubble" of the late 1990s and early 2000s.
A comprehensive report in our Intelligence Report series examining tax-sheltering arrangements for investors, including Venture Capital, Forest Finance and Film Finance in a number of key jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report5.asp
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